George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
As much as this massively discounted fund raise causes concern, I think of greater importance is the comment about launching " a strategic review of the Songwe Hill and Pulawy projects". Does this indicate that they are having such problems with getting the MDA over the line or finding investors, that they might consider just getting out altogether ? By that I mean just selling the entire thing. And if so this would inevitably come with a massive discount.
Im expecting a share price fall today as the market opens, probably by more than the discounted 25% fund raise.
What a kick in the guts for all of us LTH's.
Not even "jam tomorrow". Just a slightly thicker smear of butter going forward. This company is going nowhere other than backwards year after year. Gdog is it time you and I just packed it in and got rid of our shares and take the hit, because I just don't think I will be around long enough to recoup my investment here.
On the basis of every quarter past performance for 2/3 years, Im reconciled to another 20 to 25% fall in the price and yet another "jam tomorrow " statement. Still they say a broken clock is right twice a day so maybe this is the time. I'll be dead before I ever recoup my losses on this share.
Do we think old Ofer is getting out with these continuous sales. He can only have so many tax liabilities, mind you every share he’s sold has been awarded on the backs of we long suffering shareholders.
And a happy new year to all LTH’s. We can only hope !!
A good recovery from the 52 week low in late October of around 132p to over the £2 mark but where will we go from here ? On past performance it might give up all this gain when next quarter results posted (it usually disappoints). Long way to get back to the 650p mark I’ll need to show marginal profit on my holding see
Well with the results probably worse than anyone expected (EBITDA halved, Profit margin cut to shreds, revenue collapsing despite umpteen acquisitions, the worst being Amobee) what hope is there for the future of this company ? Even if we attract the attention of private equity, and fire all the existing board, we shareholders would get well and truly ****ed.
And they still cling to the eternal lifeboat of another $20 million share purchase programme as if any of the previous ones did anything to help the share price.
Guidance is abysmal so Im looking at yet another year in the toilet. If I were to cash out today I'd be losing 75% of the value I accrued over these years. Abandon hope all ye who enter here !!
As current posters will probably recognise I have been a very long term holder of this stock (well over 800,000 shares) and like many others have waited with growing impatience for the MDA, with its expectations that once agreed, the share price would re-rate. I desperately hope that to be the case, BUT, in researching the actual share prices of the top ten existing rare earth mining companies outside of China over the past year (including MP Minerals, Lynas, etc) I see nothing but significant declines of up to 55% despite the growing clamour for the West to support governmentally any company who could reduce China's dominance. Accepting that Mango has more strings to its bow than the straightforward mining companies, this does make me a little cautious as to what will really happen to the share price once MDA concludes. Actual commencement of mining will probably take another couple of years so the Pulawy refining plant won't have any feedstock for a while.
Many others, including myself have commented that this share price could rocket towards £ 1 a share within a year and whilst I desperately would love to see this (it could pay off my mortgage) I am coming around to the hope and expectation that if we can get back to a mid 20's price within the next year, Id be happy (but would NOT sell).
And let's hope that car battery technology doesn't discover that it can get by with other than rare earth metals in the meantime. Ive got until December 2026 before mortgage due for payment. Surely we'll have an MDA before then LOL ??
Just added another £5k at 10.66p to take my current holding to over 800,000 shares. Hope that illustrates my confidence in this company going forward. If it ever does hit the mythical £1 share price often referred to on this blog, I could afford to pay off my mortgage and buy a nice little winter apartment in Oz, (where I have dual nationality having lived there for 10 years back in the 80's). Until then just pray and hope every day that this MDA lands and we can crack on with getting some stuff out of the ground.
i just looked back to the rns in january which mentioned that the mda should be finalised “shortly” it now feels like we will see the second coming of the christ before the malawi govt will get off their fat ****s and get this done. mkango are still sounding about getting the first concentrate early in 2025!! not a hope in hell. day after day, week after week, month after month and still we wait for this bombshell to land. i’ll bet the ukraine war will be over before we ever see this “mirage in the desert”
Well it seems that the market (at least the UK version of it) has swelled the quite unbelievable claptrap forward guidance, such that the morning sell off has now recovered all of its losses.
I suspect our Nasdaq "friends" won't quite be as gullible so expecting a renewed sell off when the market opens stateside.
to scorpionwinger - *******s to finncap. they've been trotting out the same price target for years now and each quarterly report takes the price lower. if we hadn't had the recent price recovery over the past couple of weeks we'd now be looking at a share price below £2 (which i think will happen anyway later today)
And one thing that really gets my goat. They NEVER separate the revenue figures into the individual companies acquired. So despite all the supposedly revenue enhancing acquisitions of the past 5 years or so, our actual sales (revenue) has declined markedly. You have to wonder what these figures would be like if we hadn't acquired Amobee.
Its absolutely shocking. And still another $ 7 millions + in share based compensation in this first quarter !!!! If only these ####wits would have their compensation based on the jam tomorrow principle for the rest of us.
Im bloody furious.
Well Gdog as you say they done it again. Revenue down, despite all the acquisitions, profit completely erased and now in a loss situation, really clutching at straws with the forward guidance, which would take miraculous recovery to achieve. All jam tomorrow yet again.
Expecting the usual 25% hit to the share price as soon as the market opens, which may well get worse when Nasdaq re-opens later today.
Have held long and strong for so many years now it looks like I'm never ever going to break even on this. What to do ???
Mainly for Gdog. Noted you were a very keen advocate for Perion and have always had much greater confidence in their management. So i did a bit of chart research going back 12 months from today. Peri as at today up by 87% and at one time was up by well over 100%. Tremor by contrast DOWN by 47% whilst the managers have enriched themselves to the tune of tens of millions in share options.
Just wish I had followed your lead. Hope you’re still invested in Peri who I note will post results May 4th for first quarter. Price steadily moving up and up this past few months whereas every day with Tremor is yet further declines to all time lows on Nasdaq.
Thankfully this RNS was released before the market opened so I was able to cancel my limit buy order (15.5p) as was expecting this to drop markedly at open, which it has, currently 3.25p down. And how are we private investors supposed to share in this placing ? It sounds like the three brokers have already sorted this with institutional investors. I cant help but feel this is a somewhat desperate measure to raise at 12.5p whereas the previous loan notes were secured at 27p. It seems to indicate serious lack of investor interest to fund this. Really to acquire Mkango in its entirety should be nothing more than pocket change for any sizeable mining conglomerate so why have none stepped forward ? eg Glencore could buy this for peanuts.
correction "will step down on August 1st 2023".
Although the CEO did step down on August 1st he passed the baton to another very experienced guy who had been responsible for the growth in their revenue, so Im not quite sure if this could be the reason for the 6% fall in Perion's price today. I only wish Id put my money in Peri instead of this blood sucking leech of a company Tremor.
Compare the "stock based compensation" of the two. Perion completed the full year with 11570 of stock based compensation compared to Tremor of 42519 for ONLY 9 months. Despite huge increase in Perion's 4th quarter revenue and profits their stock based compensation remained at just 3.2 million whereas Tremor reported 11.526 million in their 3rd quarter alone. If Tremor fail in the 4th quarter I hope there will be some moves from institutional investors to demand some regress on these absurd share options.